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Praxair issues $400 million of notes due 2012
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DANBURY, Conn. - Industrial gas producer Praxair Inc. said Tuesday it has priced $400 million of 1.75 percent notes due Nov. 15, 2012.
The issue price of the notes is 99.71 percent of the principal amount, with a yield of 1.85 percent.
The offering is expected to close on Nov. 16.
Praxair plans to use the proceeds to repay debt, pay for share buybacks and for general corporate purposes. The offering is led by Banc of America and Deutsche Bank.
The company's shares fell 21 cents to $83.42 in late afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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